Mercer Responsible Moderate Fund
Responsible Moderate Fund is a balanced KiwiSaver fund managed by Mercer. It has 4,827 members and holds $235 million. It opened in 2015.
Fees and returns
- Annual fee
- 0.66% of your balance each year
- Return over 1 year
- +5.2% a year
- Return over 3 years
- +5.4% a year
- Return over 5 years
- +3.0% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
How it compares
Over the last five years this fund returned +3.0% a year. The median for mainstream balanced funds over the same period was +3.8% a year, across 40 funds. This fund is behind that median, by 0.8 percentage points.
What it invests in
International fixed interest 28%, international equities 25%, new zealand fixed interest 20%, cash and cash equivalents 12%.
Largest holdings
- New Zealand Government 150528 0.25 Gb 2.04%
- New Zealand Government 200429 3.0 Gb 1.98%
- New Zealand Government 140433 3.50 Gb 1.92%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +5.2% |
| 2024/25 | +3.7% |
| 2023/24 | +7.2% |
| 2022/23 | −2.0% |
| 2021/22 | +1.2% |
| 2020/21 | +11.6% |
| 2019/20 | −0.7% |
| 2018/19 | +4.1% |
| 2017/18 | +4.8% |
| 2016/17 | +5.1% |
About this fund
The Mercer Responsible Moderate Fund is a diversified fund on Mercer's multi-manager structure, investing mainly in defensive assets such as fixed interest and cash, with about 40% in growth assets such as shares and real assets — so it carries more income than growth. It is managed with reference to ESG factors as part of Mercer's responsible-investment approach. It has operated since 2015 and carries an annual fund charge of 0.66%.